The broker’s pitch was appealing: Inland Western Retail Real Estate Trust Inc. would pay steady dividends and the stock price wouldn’t fluctuate with the market. In 2004, Robert and Davida Wendorf invested $100,000. Last year, the real estate investment trust, which isn’t listed on an exchange, slashed its payout by 70%.
Nonlisted REIT sales get heightened scrutiny by FINRA
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